Octopus 15 month fix tariff

MikeJXE

Gerry1 said:

EssexHebridean said:

Making variable DD the default would be an extremely fast way of seeing huge number of customers ending up unable to pay their winter bills - for the simple reason that they would not know HOW to ensure that this didn't happen.

It wasn't a problem in the days of the Gas and Electricity boards.  Pay on receipt of bill, red warning letter a fortnight later if you didn't.

It's not a problem today with petrol or supermarket trolleys: drive more, eat more, drink more and you'll pay more.  And it wouldn't be compulsory.

Far better than finding your DD has suddely doubled after the 6-month review.

I totally agree 

Pay for what you get when you get when you get it 

Phones4Chris

Well as far as I was concerned, it was a no brainer, At least I know I'll get reasonable customer service and there's nothing significantly cheaper from a provider I would trust. Switched last night.

Kim_13

Did the meter readings and then took the fix today. Didn’t realise it would only take effect from the next day but thought I’d post as it may be useful to others.

wrf12345

"Far better than finding your DD has suddely doubled after the 6-month review."

One of the reasons I changed from BG to Octopus was for the variable direct debit, totally annoyed by having to challenge BG every three months when they wanted to put up the DD despite always running a credit balance. Later BG were running a low s/c fixed offer that would have saved me a few quid but I did not change back because of the constant hassle. Octopus give a couple of weeks warning when they are taking the money out of your account so it is not an unexpected amount and you can monitor daily usage to make sure you don't overspend. If you don't do the internet or emails then, fair enough, probably not ideal but I guess those people would prefer a paper bill, anyway.

EssexHebridean

Gerry1 said:

EssexHebridean said:

Making variable DD the default would be an extremely fast way of seeing huge number of customers ending up unable to pay their winter bills - for the simple reason that they would not know HOW to ensure that this didn't happen.

It wasn't a problem in the days of the Gas and Electricity boards.  Pay on receipt of bill, red warning letter a fortnight later if you didn't. That was back in the day when more people still properly understood budgeting, though. once a skill is lost, it takes time to bring it back.

It's not a problem today with petrol or supermarket trolleys: drive more, eat more, drink more and you'll pay more.  And it wouldn't be compulsory. In the supermarket, if you get to the till and can't pay, you can choose to put some items back until the bill reaches a level you can afford. When filling the car up, you can see the amount increasing as you fill, enabling you to stop when it reaches the limit of what you can afford. Neither of those things apply with energy use, unless folk are on prepayment.

Far better than finding your DD has suddely doubled after the 6-month review. 

It pains me that I have to disagree, but in this case a method of billing which SHOULD be incredibly straightforward would prove not to be for so many people. 

Gerry1

We'll have to agree to disagree, but IMHO at the very least Ofcom should mandate that all consumers should have the choice of Variable Monthly DD or So-Called-'Fixed'-Monthly-DD-that-Changes-Every-Three-Months... 😄

EssexHebridean

I completely agree that variable DD should be mandated to be offered to customers by ALL providers - along with a full explanation of the associated risks so that people can make an informed decision! I've chosen to use it myself many times in the past when with energy co's that are less than accommodating to customers being able to adjust their own DD - no need of it now I am with Octopus thankfully (see what I did there to get back On Topic?!) and it suits me better to have a set amount going out monthly. 

Standen1

Hi
On Monday 16th Sept switched to Octopus 15m Fixed Tariff. Very smooth operation and will work out cheaper than standard tariff for me. 
Out of interest I got another quote today (Thurs 19th Sept) and was quoted different rates, which worked out better than those given on Monday.
I rang Octopus to query this and the service rep said rates change everyday, only fixed once you sign up. I said could I change my tariff to these new lower rates and she said yes as there are no exit fees on the fixed tariff. She did it there and then. Excellent service.
Suggest everyone gets a new online quote to see if rates are better now than when you signed up to the Fixed Tariff.

MikeJXE

Thanks for the heads up.

I checked that out and it wouldn’t benefit me being a very low user 

Daily rate up and unit rate down 

Gerry1

Standen1 said:

Suggest everyone gets a new online quote to see if rates are better now than when you signed up to the Fixed Tariff.

Welcome to the forum.

I know that tariffs come and go quite frequently but it must be a record for a company to launch and withdraw a tariff every day !

I've updated my 15M fix, so many thanks.

Incidentally, anyone who has a car with £0 VED can renew monthly thereby postponing the hike that's due to start in April 2025.  You don't need to cancel or SORN it, just renew it and pay £0.